How To Send Your Child To College Debt Free
Getting a college degree is an investment in the future, but a costly one. The more recognized the institution the better ones prospects in the job market down the road, but will be harder on your pocket. So, let’s say you want to send your child to Oxford, youll need to save up quite a bit, $454,990 according to CNBC.
One thing financial advisors are recommending that parents put away any extra money left over from the monthly Child Tax Credit payments towards a childs future educational needs. Heres how you can save and invest to reach that goal, or perhaps a more modest one.
When Can I Expect My Tax Refund In 2021
The IRS delayed their normal start day for processing tax returns to This means that getting refunds will also be delayed compared to previous years. The IRS indicates that using electronic filing will speed up processing.
The IRS also notes that those who have the Earned Income Credit and Additional Child Tax Credit can expect refunds to start being issued the first week of March for those who file their tax return as soon as processing starts in February.
Most taxpayers will receive their refund within 21 days of filing electronically, assuming there are no errors or other issues with their return.
It is important to note that although the start date for processing returns was pushed back, the end-date to file your return has not changedit is still April 15 for most taxpayers.
Free Masks Available For Some Arizonans
The Arizona Department of Health Services announced that some Arizonans would be able to get free masks from the state.
The department partnered with Hanes to provide free face masks to Arizonas most vulnerable populations.
Anyone who is part of a vulnerable population , a student , school staff member or who may not be able to purchase one is able to get a free mask.
Each other will provide five washable, reusable cloth face masks, one order per household.
The department hopes to give out two million cloth face masks.
Anyone with questions can visit the department’s FAQs page or contact Hanes at 1-800-503-6698.
Don’t Miss: Who Do I Contact About My Stimulus Check
Government And Council Members Listing
- Terry Rambler, Chairman
- Bernadette Goode, Seven Mile District Councilwoman
- John Antonio, Jr., Seven Mile District Councilman
- Valerie Key-Cheney, Peridot District District Councilwoman
- Dr. John Bush, Peridot District Councilman
- Barbara May, Gilson Wash District Councilwoman
- Simon Hooke, Gilson Wash District Councilman
- Allred Pike, Jr.,
- Jonathan Kitcheyan,
- Eugene David Nozie,
Millions Of People May Still Be Eligible For Covid
Most eligible Americans will receive coronavirus aid checks by April 15, Treasury official says
The official said Treasury is transmitting the batch of payments to the Federal Reserve for distribution to financial institutions across the nation
Time is running out for millions of people to claim their COVID relief checks.
Based on IRS and Treasury data, there could be between 9 and 10 million people who have not yet received their payments.
Qualified Americans with little or no income and are not required to pay taxes have until November 15 to submit a tax return and claim their money.
If you think you may be eligible, but did not receive a direct payment or the Child Tax Credit you can file a simplified tax return.
If you did not file taxes by the April 15 deadline, you only have until Oct. 17.
READ MORE: US inflation accelerated in September, keeping pressure on households
From April 2020 to December 2021 the federal government sent out three rounds of checks to individuals totaling $931B.
U.S. citizens who made less than $75,000 or married couples with an income below $150,000 were eligible for all three payments.
Congress also temporarily expanded the Child Tax Credit to include more families and boost payment amounts.
The Treasury Department and IRS believes many of the people eligible for the money who have not received their money have never filed a tax return, have limited or no internet access, or could be experiencing homelessness.
Don’t Miss: Is There Going To Be Anymore Stimulus Checks
Student Loan Debt Delaying Homeownership
Part of the American Dream is owing your own home however, student loan debt is cited as the reason a majority of millennials and a third of boomers said in an online poll. Outstanding student loan debt in the US is higher than credit card and auto debt. It has surpassed $1.7 trillion and around a third of borrowers are in delinquency or default.
Brookings Details The Impacts Of Evictions That Often Fail To Make The News
In late August the federal eviction moratorium was overturned by the Supreme Court. The justices who voted on the side of a realtor association in Alabama argued that small landlords were disproportionately hurt by the moratorium and that it was no longer needed as the economic recovery was in full swing. However, in the weeks that followed, organizations like Goldman Sachs released projections that as many as 750,000 households could be evicted by the end of this year.
In light of these developments, researchers at Brookings took a look at the impacts evictions have on communities and their findings are alarming. In a new blog, the authors stated that “evictions have restarted, with evicted parents being separated from their children while entire communities are likely to see increased COVID-19 diagnoses.”
Additionally, the researchers — Carl Romer and Kristen Broady — described the disproportionate harm this decision would have on the Black communities saying, “Black-majority neighborhoods see higher eviction rates relative to neighborhoods where less than 1% of the population is Blackeven where poverty rates are low, education rates are high, and renters cost burden is small.“
You May Like: Stimulus Checks Without Filing Taxes
Reminder: New Child Tax Credit Payments Are On The Way
On Wednesday the IRS began sending out payments as part of the new Child Tax Credit, with eligible households receiving up to $300 per child. The payments began in July and this week’s round represents the third to be distributed. If you haven’t yet signed up for the programme, head over to GetCTC to submit your details and trigger the monthly financial support.
Why Support Was So Important
Native communities are often invisible in normal times. This is exacerbated in times of crisis. Native communities are ripe for the effects of COVID-19 to intensify at extraordinary levels as follows:
- With health already compromised by high rates of diabetes, heart disease, hypertension, and other chronic illnesses, Native people are a seriously at-risk population.
- 13% of Native American homes lack safe drinking water and proper wastewater disposal, creating conditions in which recommended sanitary standards cannot be maintained.
- 16% of homes in tribal areas are overcrowded and multigenerational, making social distancing impossible.
- Food shortages and the logistics of accessing food further threaten the health and resilience of Native families. An overlay of the USDA Food Deserts Locator map with Native communities shows a marked absence of retail supermarkets, meaning that healthy, fresh, or any food is not easily accessible for Native people.
Read Also: Irs Tax Stimulus Checks Second Round
First Round Of Stimulus
What are the Economic Impact Payments?
On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act, which, among other things, authorizes economic impact payments to eligible individuals. For details on these economic impact payments, please visit www.irs.gov/coronavirus.
Under the CARES Act signed on March 27, 2020, the first stimulus payment was required to be intercepted to pay child support arrears. If you pay child support through the states IV-D program and owe child support, the Federal Treasury Offset Program reduced your first stimulus payment up to the amount owed. The intercepted amount was applied toward your child support arrears.
Will my first stimulus payment be intercepted to pay my child support arrears?
Yes, if you pay child support through the states IV-D program and owe child support, the Federal Treasury Offset Program will reduce your stimulus payment up to the amount owed. This amount will be applied toward your child support arrears.
How does the Federal Treasury Offset Program know how much to reduce my first stimulus payment?
DCSS must, by law, certify past-due child support debts to the Federal Office of Child Support Enforcement for federal enforcement.
- Cases with public assistance or Temporary Assistance for Needy Families arrears are referred if the total balance of TANF arrears is $150 or more.
- Cases without public assistance/TANF arrears are referred if the total balance $500 or more.
Will Aocs Bill Extend Pandemic Unemployment Insurance Until 2022
In a monthly town hall hosted by Representative Alexandria Ocasio-Cortez, she spoke to her constitutes about a new bill she is proposing to extend federal unemployment benefits through 2022.
In her comments, the Congresswomen articulated her frustration with Congress saying, Ive been very disappointed on both sides of the aisle that weve just simply allowed pandemic unemployment assistance to completely lapse, when we are clearly not fully recovered from the consequences of the pandemic.
Read our full coverage for details on other efforts to boost unemployment benefit pushed for on Capitol Hill.
Read Also: How To Find Out What Stimulus Checks I Received
Here Is The Latest Information On Covid
The Arizona Department of Health Services said more than 4.2 million doses of COVID-19 vaccine have been administered as of Thursday.
Who can get a COVID-19 vaccine?
The state and Maricopa and Pima counties have expanded vaccine eligibility to Arizonans 16 and older. Other counties are offering vaccines to people in Phase 1B. Gila County has extended vaccines to some people in Phase 1C and Mohave County opened vaccines to all adults. Learn more about the phases here.
How can I sign up for a COVID-19 vaccine?
You can sign up for a vaccine through the state here or find more information about finding up through the counties here.
Where can I get a COVID-19 vaccine?
There are five locations where the state is administering vaccines: State Farm Stadium in Glendale, Desert Financial Arena in Tempe, Dexcom in Mesa, University of Arizona’s Tucson campus and Yuma Civic Center in Yuma. All other locations are run through the individual counties or federal programs.
Where can I find more information on a COVID-19 vaccine?
You can find more vaccine information at 12News.com/Vaccine.
What Is The 2021 Stimulus Based On
The amount of the third-round Economic Impact Payment was based on the income and number of dependents listed on an individuals 2019 or 2020 income tax return. The amount of the 2021 Recovery Rebate Credit is based on the income and number of dependents listed on an individuals 2021 income tax return.
Don’t Miss: When Was The 3rd Stimulus Payment Issued
What If My Spouse Or Ex
If you did not get all or some portion of your Economic Impact Payments you can file a 2020 tax return and claim these amounts on line 30 of the form. The IRS is referring to this as the recovery rebate and will allow you to claim any of the EIPs that you did not get in advance. You may get a denial letter from the IRS, but that is the opportunity to reply and explain your situation to the IRS. In this situation, Vermonters with a low income can contact us for help at the Vermont Low-Income Taxpayer Clinic by filling out our form or calling 1-800-889-2047.
Why Did Unemployment Claims Increase Last Week
Economists warn that the economic disruptions caused by the covid-19 pandemic are far from over. Last week initial unemployment claims rose by 20,000 after hitting their lowest level recorded during the pandemic.
Some believe that this could be tied to the poor job market growth seen in August, the devastating effects of Hurricane Ida, and the ongoing impacts of the Delta variant.
Stimulus checks and Child Tax Credit live updates: welcome
Hello and welcome to our live blog on Friday 17 September 2021, offering you the latest updates on a possible fourth stimulus check, plus information on the enhanced Child Tax Credit.
We’ll also provide you with news on other relief measures in the US, such as unemployment benefits and California’s Golden State Stimulus checks scheme.
Recommended Reading: What Is The Homeowners Relief Stimulus Program
White House Addresses Manchins Child Tax Credit Work Requirement
Sen Joe Manchin wants to include a work requirement in order for parents to qualify to receive the enhanced Child Tax Credit which includes the monthly advance payments. Gene Sperling, the White House coordinator for the American Rescue Plan, gave two reasons why he thinks Sen Manchin will get on board to extend the changes to the CTC.
One, 97 percent of children that receive the credit are in working families.
Two, the other 3 percent are in families with an excessive disability or health challenge or excessive care needs for older parents.
I think in the long run its going to be a tough negotiation…
but I think well get there. And the reason is, there is a shared value here, Sperling said.
The week before federal unemployment programs ended, more than 9.3 million people claimed benefits. With the ending of these programs came news that 35% of respondents to a survey conducted by the US Census Bureau in late August said that they were behind on their rent and mortgage payments.
Rep. Ocasio-Cortez discusses a new bill that would extend federal pandemic unemployment benefits through February 2022.
Claiming This Money Wont Hurt Your Other Benefits
The IRS is stressing that if you claim these 2021 tax credits, it wont change whether youre eligible for other federal benefits for low-income households namely the Supplemental Nutrition Assistance Program , Supplemental Security Income , Temporary Assistance for Needy Families , or the Special Supplemental Nutrition Program for Women, Infants and Children .
So dont worry about that.
You May Like: New York Stimulus Check 4
How Has The Child Tax Credit Affected Childhood Poverty
Early figures suggest that the expanded Child Tax Credit is having the desired effect and is reducing the number of families across the United States living in poverty.
Last week a group of Democrats in Congress unveiled their proposals to see the current program extended through 2025. It would also make the refundable element made permanent, ensuring that low-income families will not have their entitlement limited.
We shouldnt let taxes go up on working families. We shouldnt let child poverty continue to stain the conscience or drag down our economy.
And so, I say to my colleagues in Congress: for working families is something we should extend, not end, next year.
President Joe Biden, Remarks on the Child Tax Credit
Stimulus Check Updates To Know For July 2022
Despite all the talk about a fourth round of federal stimulus payments, summer is here and the check is still not in the mail. Lawmakers have proposed several plans to help America cope with inflation high gas prices, specifically but none have come to fruition so far.
Learn: Surprising Things You Can Buy With Food Stamps in the Midwest
Any federal action faces a tough road through a divided Congress. That doesnt mean help isnt on the way, but it all depends on where you live.
Recommended Reading: Where Can I Cash My Stimulus Check 2021
Second Round Of Stimulus
What is the second round of stimulus payments?
The COVID-related Tax Relief Act of 2020, signed on December 27, 2020, includes a second round of economic stimulus payments for families who meet certain financial thresholds. The IRS expects to start sending out stimulus payments in January 2021. For details on the economic stimulus payments, please visit .
Will my second stimulus payment be intercepted to pay my past-due child support?
No. Unlike the first round of stimulus payments approved by Congress through the Coronavirus, Aid, Relief, and Economic Security Act, the second round of stimulus payments authorized through the COVID-related Tax Relief Act of 2020 are not subject to intercept for past-due child support.
Didnt Get The Full Third Payment Claim The 2021 Recovery Rebate Credit
You may be eligible to claim a 2021 Recovery Rebate Credit on your 2021 federal tax return.
Individuals can view the total amount of their third Economic Impact Payments through their individual Online Account. Through March 2022, well also send Letter 6475 to the address we have on file for you confirming the total amount of your third Economic Impact Payment and any plus-up payments you received for tax year 2021.
You will need this information from your online account or your letter to accurately calculate your 2021 Recovery Rebate Credit when you file your 2021 federal tax return in 2022. For married filing joint individuals, each spouse will need to log into their own online account or review their own letter for their half of the total payment. All amounts must be considered if filing jointly.
Using the total amount of the third payment from your online account or Letter 6475 when preparing a tax return can reduce errors and avoid delays in processing while the IRS corrects the tax return.
Also Check: How.many Stimulus Checks In 2021
Arizona Health Department Sets Up Hotline To Report Businesses
The Arizona Department of Health Services has set up two ways for people to report local businesses that are not following COVID-19 guidelines.
People can report businesses through a hotline or through an online form:
- Submit a complaint online at www.azhealth.gov/complianceCOVID19
Theres a role for the public as well: If you believe a business isnt following these requirements, which were established for the safety of customers, employees, and the broader public, ADHS encourages you to share your concerns so local and state officials can follow up as needed, AZDHS said in a statement.
Who Supports Extending Unemployment Benefits
After many lawmakers on Capitol Hill remained silent over their support on extending unemployment benefits, many have now come forward.
This includes thirteen members of the House Progressive Caucus who sent a letter to Speaker Pelsoi and Senate Majority Leader Chuck Schumer arguing that “Congress should set a floor for UI duration that states must follow, broadly include part-time workers, ban exclusions based on past wages, and require alternative base periods.”
Many were motivated to sign onto the letter learning the devastation cutting benefits will have in the US. The letter reads that “Our nation is now left with a system that denies life-saving resources to overtwo-thirds of our unemployed neighbors and that covers less than half of lost wages. In some cases, nine out of every ten jobless workers have no unemployment benefits.”
The signers of the letter include, Reps. Jerrold Nadler , Sylvia R. Garcia , Sara Jacobs , Frederica S. Wilson , Jamie Raskin , Ilhan Omar , Barbara Lee , Yvette Clarke , Mondaire Jones , Andrè Carson , and Nikema Williams .
Read the full letter here.
Also Check: How To Check For Stimulus Checks
